Abacus FCF Advisors LLC Makes New Investment in Cintas Co. (NASDAQ:CTAS)

Abacus FCF Advisors LLC purchased a new position in shares of Cintas Co. (NASDAQ:CTAS) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 20,933 shares of the business services provider’s stock, valued at approximately $3,824,000.

Other hedge funds have also recently made changes to their positions in the company. Sound Income Strategies LLC purchased a new stake in Cintas during the fourth quarter valued at about $27,000. Cyrus J. Lawrence LLC purchased a new stake in Cintas during the 4th quarter valued at about $29,000. Endeavor Private Wealth Inc. bought a new position in Cintas during the 4th quarter worth approximately $31,000. IAG Wealth Partners LLC increased its stake in Cintas by 136.8% in the 4th quarter. IAG Wealth Partners LLC now owns 180 shares of the business services provider’s stock worth $33,000 after purchasing an additional 104 shares during the period. Finally, Newbridge Financial Services Group Inc. bought a new stake in Cintas in the fourth quarter valued at approximately $34,000. 63.46% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. Citigroup started coverage on shares of Cintas in a research report on Monday, February 24th. They issued a “sell” rating and a $161.00 price objective on the stock. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $215.00 price target on shares of Cintas in a research report on Thursday, March 27th. Robert W. Baird lifted their price objective on Cintas from $200.00 to $227.00 and gave the stock a “neutral” rating in a research report on Thursday, March 27th. The Goldman Sachs Group raised their price target on Cintas from $211.00 to $233.00 and gave the stock a “buy” rating in a research note on Thursday, March 27th. Finally, Truist Financial boosted their price objective on shares of Cintas from $215.00 to $230.00 and gave the company a “buy” rating in a research report on Thursday, March 27th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $210.58.

Cintas Price Performance

Shares of NASDAQ:CTAS opened at $190.54 on Tuesday. The firm has a market cap of $76.89 billion, a price-to-earnings ratio of 45.94, a P/E/G ratio of 3.98 and a beta of 1.20. The firm has a fifty day moving average price of $201.24 and a 200 day moving average price of $204.48. Cintas Co. has a fifty-two week low of $162.16 and a fifty-two week high of $228.12. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.38 and a current ratio of 1.58.

Cintas (NASDAQ:CTAS) last posted its earnings results on Wednesday, March 26th. The business services provider reported $1.13 EPS for the quarter, topping analysts’ consensus estimates of $1.05 by $0.08. Cintas had a return on equity of 40.62% and a net margin of 17.23%. The company had revenue of $2.61 billion for the quarter, compared to the consensus estimate of $2.60 billion. During the same period in the previous year, the business earned $3.84 earnings per share. The firm’s revenue for the quarter was up 8.4% on a year-over-year basis. As a group, sell-side analysts expect that Cintas Co. will post 4.31 earnings per share for the current fiscal year.

Cintas Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 14th were given a $0.39 dividend. The ex-dividend date of this dividend was Friday, February 14th. This represents a $1.56 dividend on an annualized basis and a yield of 0.82%. Cintas’s dividend payout ratio is presently 36.11%.

Cintas Profile

Cintas Corporation engages in the provision of corporate identity uniforms and related business services primarily in the United States, Canada, and Latin America. It operates through Uniform Rental and Facility Services, First Aid and Safety Services, and All Other segments. The company rents and services uniforms and other garments, including flame resistant clothing, mats, mops and shop towels, and other ancillary items; and provides restroom cleaning services and supplies, as well as sells uniforms.